Achieve Life Sciences (NASDAQ:ACHV) Issues Earnings Results

Achieve Life Sciences (NASDAQ:ACHV – Get Rating) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.07, Yahoo Finance reports. During the same period last year, the business earned ($0.76) earnings per share.

Achieve Life Sciences Trading Down 2.0 %

Shares of NASDAQ ACHV traded down $0.09 during midday trading on Friday, hitting $4.35. The stock had a trading volume of 249,203 shares, compared to its average volume of 108,829. The company has a market capitalization of $77.87 million, a price-to-earnings ratio of -1.09 and a beta of 1.44. Achieve Life Sciences has a 1-year low of $2.00 and a 1-year high of $8.13. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 15.10. The company has a fifty day moving average price of $4.83 and a 200 day moving average price of $3.63.

Hedge Funds Weigh In On Achieve Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of ACHV. Raymond James & Associates lifted its stake in shares of Achieve Life Sciences by 412.0% in the 4th quarter. Raymond James & Associates now owns 89,249 shares of the biopharmaceutical company’s stock valued at $219,000 after purchasing an additional 71,818 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Achieve Life Sciences by 48.4% in the 4th quarter. LPL Financial LLC now owns 148,300 shares of the biopharmaceutical company’s stock valued at $363,000 after purchasing an additional 48,400 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Achieve Life Sciences in the 4th quarter valued at about $75,000. Jane Street Group LLC purchased a new stake in shares of Achieve Life Sciences during the 3rd quarter valued at about $53,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Achieve Life Sciences by 57.5% during the 2nd quarter. Renaissance Technologies LLC now owns 39,700 shares of the biopharmaceutical company’s stock valued at $194,000 after buying an additional 14,500 shares during the period. 21.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Achieve Life Sciences in a research note on Friday.

Achieve Life Sciences Company Profile

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Achieve Life Sciences, Inc is a clinical-stage pharmaceutical company, which engages in the development and commercialization of cytisinicline for smoking cessation. Its products includes cytisine, a plant-based alkaloid with a binding affinity to the nicotinic acetylcholine receptor. The company was founded in October 1991 and is headquartered in Vancouver, Canada.